ONLINE GAMING MERCHANT ACCOUNTS
If you are planning to operate an online gambling platform, you are going to require a gambling merchant account. This makes a gambling processing integral to your business. The online gambling industry is vast and like other industries has many hurdles to overcome. Conventional banks are somewhat sceptical of those operating within the gambling industry, making ChargeMoney the easiest and safest solution to guide you through the process safely.
Obtaining an online gaming merchant account isn’t easy. However, if you comply with the requirements and provide the correct documentation, the chances of having your gaming merchant account approved is extremely high. The key to success is having a partnership with a company that knows the industry inside out and this is where we come into our own. We help you every step of the way, making the process simple for you to focus on making your business the best it can be.
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Reasons to Choose ChargeMoney for Online Gaming Merchant Account
Having the combined industry experience of over 10 years, ChargeMoney has provided merchant services to companies in the US and throughout the world. Here are some of the reasons merchants choose us.
Why online gaming merchant account is considered high-risk
Digital gaming is categorised as high-risk by most acquiring banks for the following reasons:
- High volume turnover. The digital gaming industry has a high volume turnover. The vast majority of banks who are giving gaming merchants a credit line consider this factor high-risk.
- Intangible product. Intangible products increase the possibility of numerous chargebacks and refunds. With small transaction amounts that are common for digital gaming, the chargeback rate might become fateful for business success.
- Money laundering. Gaming merchants are often based offshore. There have already been documented cases of money laundering and fraud. That raises banks concerns from the offset.
- No processing history. Thanks to the rapid growth of the industry, there is an increasing number of new merchants trying to get involved. Having enough funds for a fresh start, they still face refusal from the banks for not having a processing history. The lack of this is considered high-risk and often leads to a decline.